According to the report, the global freezer bags market was valued at USD 3.66 billion in 2017 is expected to reach USD 4.72 billion by 2024, at a CAGR of 3.7% between 2018 and 2024.

New York, NY, Jan. 11, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Freezer Bags Market by Type (Flat Bags, Satchel Bags, and Block Bottom Bags), by Material (High-Density Polyethylene (HDPE), Medium-Density Polyethylene (MDPE), and Low-Density Polyethylene (LDPE)), and by Application (Food, Pharmaceuticals, Medical Devices, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024”. According to the report, the global freezer bags market was valued at USD 3.66 billion in 2017 is expected to reach USD 4.72 billion by 2024, at a CAGR of 3.7% between 2018 and 2024.

Freezer bags are used to store food products, pharmaceutical products to enhance their shelf life. These freezer bags are generally made of plastics like high-density polyethylene, low-density polyethylene, and medium density polyethylene. During the manufacturing process of freezer bags, an additive is added to avoid the brittleness of products. These bags help to preserve products for a longer period of time. Therefore, these bags are widely used in the pharmaceutical and food, among various other industries.

The freezer bags market is expected to grow fast in the years ahead, owing to the increasing consumption of meat globally. With the rising population in developing countries, such as India, China, and Brazil, the demand for processed food is expected to boost the demand for freezer bags in the food industry. In addition, the pharmaceutical industry has grown drastically in the last few years, which, in turn, is expected to increase the use of freezer bags for pharmaceutical packaging. These are some other factors that are likely to support the freezer bags market in the future on a global scale. However, due to stringent government regulations on plastic use and fluctuating prices of raw materials might hamper the freezer bags market. On the other hand, the increasing research and development activities in the production of freezer bags are estimated to offer several opportunities to the market players in the future.

The global freezer bags market is classified based on type, material, and application. By type, the global freezer bags market includes flat bags, satchel bags, and block bottom bags. Satchel freezer bags held the largest market share, followed by block bottom bags. The share of block bottom bags is expected to grow at the fastest pace over the forecast time period. By material, the global freezer bags market includes high-density polyethylene (HDPE), medium-density polyethylene (MDPE), and low-density polyethylene (LDPE). High-density polyethylene is likely to dominate the global freezer bags market in the future, owing to its wide usage to manufacture freezer bags. By application, the global freezer bags market includes food, pharmaceuticals, medical devices, and others. Food application segment is the largest consumer of freezer bags, owing to the growing food industry globally to preserve food products.

In 2017, the North American region dominated the global freezer bags market, followed by Europe. The region’s growing food industry is projected to drive the freezer bags market in the region. In addition, the demand for processed food is increasing rapidly in North America and increasing the consumption of meat and meat products are expected to spur the usage of freezer bags for preserving purpose.

The European freezer bags market is the second largest market for freezer bags. The surging demand for medical devices across the region is likely to further enhance the application of freezer bags in the medical sector. Moreover, several medical devices are packed in freezer bags to sustain their performance for a longer time period. Therefore, these are some factors projected to propel the usage of freezer bags in Europe in the years ahead.

The Asia Pacific region is anticipated to be the fastest growing regional market in the estimated time period. This can be attributed to the changing lifestyle coupled with a growing population contributing to the increasing demand for food packaging and storage solutions. In India and China, the demand for processed and frozen food has increased, which, in turn, is anticipated to fuel the freezer bags market in the future. Moreover, the region’s emerging pharmaceutical industry has is widely using freezer bags.

Increasing the consumption of meat, poultry products, and dairy products is likely to drive the freezer bags market in Latin America in the upcoming years. Brazil is expected to be the leading consumer of freezer bags within the region. The surging pharmaceutical industry in the region is projected to accelerate the demand for freezer bags in various application sectors. Additionally, the growing packaging industry is likely to drive the region’s freezer bags market in the future.

The Middle East and Africa is expected to grow moderately due to the growing food industry. Freezer bags are widely used by the food industry to preserve various food products, such as baked goods, poultry, meat, seafood, snacks, confectionary, etc. Additionally, the advancement in the manufacturing process of freezer bags is estimated to fuel this regional market’s growth in the near future.

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